NEW BRITANNIA BANK
ENGLISH BACKING DESIRED. (United Press Association.—By Electrie Telegraph.—Copyright. J LONDON, September 14. In reference to the new Britannia Bank, the inauguration of which was cabled on September 9th, the Australian Press Association learns from an authoritative source that the reference made to there being an English backing probably refers to negotiations undertaken with a powerful London group or financiers, for the rehabilitationu'of the New South Wales .State Savings Bank, which negotiations were terminated by this group some days ago, owing to procrastination on the part of the Australian representatives ; but the latter seem to regard the negotiations as being still open and they' apparently wisii the public in Australia and New Zealand to think that support for the new venture is forthcoming from London, though no discussion in that connection ■ has yet taken place. The London group of financiers regard such statements as misleading to the prospective investors and they express resentment thereat.. Consequently they are making this disclaimer, as silefice at this stage might be construed into a tacit acquaintance with these, methods.
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Hokitika Guardian, 16 September 1931, Page 5
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177NEW BRITANNIA BANK Hokitika Guardian, 16 September 1931, Page 5
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